HB Wealth Management LLC Increases Stake in Boston Scientific Co. (NYSE:BSX)

HB Wealth Management LLC raised its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 16.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,018 shares of the medical equipment provider’s stock after purchasing an additional 3,219 shares during the quarter. HB Wealth Management LLC’s holdings in Boston Scientific were worth $1,773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of BSX. Russell Investments Group Ltd. increased its holdings in shares of Boston Scientific by 19.9% in the 4th quarter. Russell Investments Group Ltd. now owns 741,769 shares of the medical equipment provider’s stock worth $42,743,000 after buying an additional 122,979 shares during the last quarter. Precision Wealth Strategies LLC purchased a new position in shares of Boston Scientific during the 4th quarter valued at about $956,000. Intrust Bank NA grew its position in Boston Scientific by 7.0% during the fourth quarter. Intrust Bank NA now owns 11,225 shares of the medical equipment provider’s stock valued at $649,000 after acquiring an additional 730 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Boston Scientific by 3.3% during the fourth quarter. Van ECK Associates Corp now owns 52,405 shares of the medical equipment provider’s stock worth $3,030,000 after acquiring an additional 1,659 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in Boston Scientific by 5.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 18,570 shares of the medical equipment provider’s stock valued at $1,074,000 after buying an additional 992 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BSX shares. BTIG Research raised their price target on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Needham & Company LLC raised their target price on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Truist Financial lifted their price objective on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Argus upped their target price on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.24.

Insider Activity at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 20,949 shares of company stock worth $1,583,395. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

NYSE BSX opened at $80.67 on Friday. Boston Scientific Co. has a one year low of $48.35 and a one year high of $80.96. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The stock has a 50-day moving average of $76.79 and a 200 day moving average of $72.76. The company has a market capitalization of $118.35 billion, a price-to-earnings ratio of 67.79, a PEG ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. Boston Scientific’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. On average, sell-side analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current year.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.